Listed property funds eye Rosebank‚ Gautrain

Posted On Monday, 26 August 2013 14:31 Published by Commercial Property News
Rate this item
(0 votes)

Reshaping of Rosebank's skyline is gathering pace as listed property funds‚ private investors and financial institutions continue to pour millions of rand into Gautrain-driven development opportunities.

Standard Bank Rosebank OfficeThe reshaping of Rosebank’s skyline is gathering pace as listed property funds‚ private investors and financial institutions continue to pour millions of rand into Gautrain-driven development opportunities. 

After two years of construction‚ Standard Bank’s investment of more than R2bn in a state-of-the art office complex on the corner of Oxford and Bolton Avenue is now coming to fruition. Standard Bank is already started moving about 5‚000 of its employees into the 65‚000m² complex.

The five-star green rated property‚ now Rosebank’s tallest building‚ comprises two towers‚ respectively 11 and nine storeys high‚ with five basement parking levels.

JSE-listed Hyprop Investments’ (HYP) substantial R920m revamp of Rosebank Mall is also well under way.

The shopping centre‚ which has become tired in recent years‚ will almost double in size from 36‚000m² to 62‚000m². Construction‚ which started a year ago‚ will be completed in September 2014.

Hyprop Investments CEO Pieter Prinsloo says though the mall’s redevelopment is in its most intense phase‚ the new entrance facing the Cradock pedestrian link as well as extensions to Truworths‚ Mr Price‚ Legit and a new Jet store will be completed before year end.

Source: FM

Last modified on Monday, 26 August 2013 14:42

Most Popular

Table Bay Mall Takes 33 Steps Forward as it Turns One

Oct 18, 2018
TABLE BAY MALL
Table Bay Mall celebrated its 1st anniversary on 28 September 2018. With 65,000m² of…

RDDA winners announced on the opening day of the (SACSC) Annual Congress held at the Durban’s International Convention Centre

Oct 18, 2018
BAI
The 2018 Retail, Design and Development Awards (RDDA) winners were announced on the…

Affordable and secure inner-city micro-living on the up in the heart of Cape Town

Oct 23, 2018
INVESTICORE
Getting your foot on the property ladder isn’t easy for first-time buyers.

Off-grid will no longer be an option for Cape Town home owners

Oct 31, 2018
SOLAR REG 1
Spiralling electricity costs and the escalating energy crisis have fuelled a fast-growing…

Continued diverging trends in residential building activity at segment level

Oct 23, 2018
Jacques Du Toit Absa Home Loans
Private sector-financed building activity (see explanatory note) in the South African…

Please publish modules in offcanvas position.